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Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

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‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

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'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
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Yelp says going all in on remote work boosted job applications by 43% and led to a more satisfied workforce

Emma Burleigh
By
Emma Burleigh
Emma Burleigh
Reporter, Success
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Emma Burleigh
By
Emma Burleigh
Emma Burleigh
Reporter, Success
Down Arrow Button Icon
February 29, 2024, 8:25 AM ET
Businesswoman takes a conference call from home.
The company has experienced a surge of job applicants since ditching its in-person policies.Getty Images
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Many return-to-office evangelists say that mandates are necessary to boost productivity and improve work culture—but Yelp begs to differ. 

The business review platform went remote like many other organizations when the pandemic hit, but unlike so many others, it stayed that way and introduced a remote-first policy in 2021. Since then, the company has experienced a surge of job applications. 

Last year, the total number of job applicants was 43% higher compared to 2021, according to Yelp’s 2024 Remote Work Report released earlier this month. The number of applicants for sales roles skyrocketed by 103%, and prospects for its general and administrative (G&A) positions shot up 52% over the same time period. Those increases fall in line with data that shows a tidal wave of applicants clamoring for remote jobs.  

“It’s rewarding to see both the level of interest and the quality of our applicants,” Carmen Amara, chief people officer at Yelp, told Fortune. “Remote work has allowed us to attract a number of candidates who previously would not have applied to Yelp due to their location.”

Despite arguments that remote work weakens workers’ connections and growth opportunities, Yelp says it has found the opposite to be true. About 90% of the company’s more than 4,700 employees say they have found effective ways to collaborate remotely, and 91% say they are confident in upward career mobility while working out of the office. 

Flexible schedules have also facilitated a healthy work-life balance—about 89% of the company’s workers say they can manage personal and professional demands, and the same amount say that the remote model has allowed them to make positive changes for their wellbeing. 

“Anecdotally, employees have told us that Yelp’s remote posture has allowed them to spend more time with their children, take up new hobbies and live closer to friends and family—all of which we believe significantly contribute to overall happiness,” says Amara. 

Notably, Yelp’s global tenure has increased to 3.5 years in 2023, compared to 2.8 years the year prior. 

The company says it’s using the money it saved from shutting down its underutilized offices in New York City, Chicago, and Washington D.C., to invest back in the employee experience and the growth of the business.

“As we continue to design the future of work at Yelp, we remain committed to evolving the employee experience,” says Amara. “We’ll continue listening to our employees and evaluating our office footprint to align with the needs of our business in 2024 and beyond.”

Emma Burleigh
emma.burleigh@fortune.com
@EmmaBurleigh1

Around the Table

A round-up of the most important HR headlines.

Stripe and its investors will buy over $1 billion of the company’s employee shares—part of a long-term commitment to provide annual liquidation to current and former workers. Wall Street Journal

The Starbucks Workers United union is now in mediation with the coffee company, with benefit promises on the table including reinstating credit-card tipping to unionized stores. Bloomberg

Hotel owners have been hiring en masse, but are still severely understaffed. That's why they're raising wages to lure in more job-seekers. Wall Street Journal

Watercooler

Everything you need to know from Fortune.

New frontiers. Klarna’s OpenAI chatbot can do the work of 700 full-time employees and handles duties for 150 million clients, completely altering the company’s hiring needs. —Ryan Hogg

Backlash. Deutsche Bank is limiting the time employees can work from home, and workers are pretty unhappy about it. —Steven Arons, Bloomberg

Open your ears. Recent turmoil at Boeing and Meta show how important it is for executives take employee concerns seriously . —Lila MacLellan

No more bosses. About 70% of Gen Z workers plan to freelance now or in the future—as layoffs surge and AI job-replacement looms, many are shifting away from traditional employment. —Prarthana Prakash

This is the web version of CHRO Daily, a newsletter focusing on helping HR executives navigate the needs of the workplace. Sign up to get it delivered free to your inbox.

About the Author
Emma Burleigh
By Emma BurleighReporter, Success

Emma Burleigh is a reporter at Fortune, covering success, careers, entrepreneurship, and personal finance. Before joining the Success desk, she co-authored Fortune’s CHRO Daily newsletter, extensively covering the workplace and the future of jobs. Emma has also written for publications including the Observer and The China Project, publishing long-form stories on culture, entertainment, and geopolitics. She has a joint-master’s degree from New York University in Global Journalism and East Asian Studies.

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